Helping seniors preserve health and financial security for themselves and their loved ones.

Tuesday, March 24, 2015

The Big 4 Legal Documents for Older Adults

Listed below are four important legal documents that older
adults should have. #1, #2 and #3 are needed by all; #4 is optional depending
on your specific circumstances.

1. A Power of Attorney for Financial Matters, where you name
a trusted person to manage financial affairs for you in the event of your
incapacity and in accordance with your directions.

2. A Durable Power of Attorney for Health Care, where you
name a trusted person to make medical treatment decisions for you if you become
incapacitated. This document should be combined with communicating with and
educating the person named and your family about your medical treatment desires,
and your values and views.

3. A Will, where you name your heirs (those who will receive
your assets when you die) and your executor (the person who will manage and
distribute your assets when you die).

4. A Trust, where you name a trustee to manage your trust
assets while you are living and manage and distribute the assets when
you die. Special kinds of trusts may also be used to protect your assets in the event
that you (or your spouse) should ever require long term care either at home or
in a nursing facility.

Here are links to more information on each of these important legal documents.

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About Me

I am a Pennsylvania lawyer with over 35 years experience in estate planning and elder law. I was selected by US News Best Lawyers® as its Lawyer of the Year in Elder Law for 2014 for the Harrisburg, Pennsylvania metropolitan region.
I am of counsel to Marshall, Parker and Weber, a law firm which has offices in Williamsport, Jersey Shore, Wilkes-Barre and Scranton, Pennsylvania. I am past President and a founder of PAELA (the Pennsylvania Association of Elder Law Attorneys). However, the views expressed on this site are my own and not those of PAELA or of Marshall, Parker and Weber.
Most importantly I am a husband, father and grandfather.